Borrower requested a $168,000 loan to purchase a single-family property in Plant City, Florida. The borrower paid $176,000 for the property and has a $45,000 construction budget planned which includes a new roof, ac, electrical and a full cosmetic remodel. Borrower is deciding between a fix and flip or a long term rental and has experience with both exit strategies.
Collateral:
Type: Refinance
Description:
This is a $200,000 TRID-compliant second mortgage loan request secured by a single-family residence located in Belleair, Florida. The home is a four-bedroom, three-bathroom property with a pool and 2,461 square feet of living space, a two-car garage, and sits on a 0.36-acre lot. Borrower intended exit strategy is to refinance the property and consolidate both the first and second mortgages.
- Loan Amount: $200,000
- Date: July 2025